Anonymous
Post 02/14/2024 20:11     Subject: Have you ever asked if your contractor for a major renovation will do better for cash?
I’m with a pretty big contracting company. Honestly I haven’t been asked this but I do sometimes discount. FWIW I’m more likely to offer a discount for someone pleasant to work with than w/people who come with an attitude expecting that I’m going to cheat them or be unethical. Our credit card fees are pretty low (not the 5-7% most people assume we’re being charged) and we don’t offer discount for paying by check. There really isn’t much of a slow time around here but December & January are best months to contract in - not because we’re not fully scheduled but that its when less people want to start new projects.
Anonymous
Post 02/14/2024 17:16     Subject: Have you ever asked if your contractor for a major renovation will do better for cash?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:The quoted price is the cash price, OP. If you want to pay with a credit card there will be a surcharge.


That's illegal and against the credit card terms of service


Lol, no. It's not illegal to charge a credit card surcharge fee.


The law varies state by state.

In my home state (Connecticut) it is...

Anonymous
Post 02/14/2024 16:52     Subject: Re:Have you ever asked if your contractor for a major renovation will do better for cash?
When we lived in Jersey this was offered and expected. When we moved here anyone we asked was horrified by the idea of it.


Confirms my opinion of New Jersey.
Anonymous
Post 02/14/2024 11:07     Subject: Have you ever asked if your contractor for a major renovation will do better for cash?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:The quoted price is the cash price, OP. If you want to pay with a credit card there will be a surcharge.


That's illegal and against the credit card terms of service


Lol, no. It's not illegal to charge a credit card surcharge fee.


It depends

Visa
Merchants can add flat convenience fees on any nonstandard payment methods

Mastercard
Only select government agencies and educational institutions can charge credit card convenience fees


Visa and Mastercard are not law enforcement agencies. Violating their terms of service is not illegal.
Anonymous
Post 02/14/2024 09:25     Subject: Have you ever asked if your contractor for a major renovation will do better for cash?
Anonymous wrote:I would be worried about liability, what happens if something is broken, etc.


This. If they are doing the work "off the books" then it's going to be a problem with workers comp/insurance/etc. if something goes wrong. Are they pulling permits?
Anonymous
Post 02/14/2024 09:23     Subject: Have you ever asked if your contractor for a major renovation will do better for cash?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:The quoted price is the cash price, OP. If you want to pay with a credit card there will be a surcharge.


That's illegal and against the credit card terms of service


Lol, no. It's not illegal to charge a credit card surcharge fee.


It depends

Visa
Merchants can add flat convenience fees on any nonstandard payment methods

Mastercard
Only select government agencies and educational institutions can charge credit card convenience fees
Anonymous
Post 02/14/2024 08:32     Subject: Have you ever asked if your contractor for a major renovation will do better for cash?
Anonymous wrote:Used to be fairly normal. Not so much anymore. Certainly not here. Not worth it for many here. Too much can go wrong.

While the bank reporting person is correct, it is beyond possible that this would cause an issue. 25k by some rando will not cause any inquiry.


A $25k cash withdrawal will result in a CTR filing (required), and there's a good chance that it could result in a SAR filing.
Anonymous
Post 02/14/2024 08:31     Subject: Have you ever asked if your contractor for a major renovation will do better for cash?
Anonymous wrote:
Anonymous wrote:The quoted price is the cash price, OP. If you want to pay with a credit card there will be a surcharge.


That's illegal and against the credit card terms of service


Lol, no. It's not illegal to charge a credit card surcharge fee.
Anonymous
Post 02/14/2024 08:29     Subject: Have you ever asked if your contractor for a major renovation will do better for cash?
Used to be fairly normal. Not so much anymore. Certainly not here. Not worth it for many here. Too much can go wrong.

While the bank reporting person is correct, it is beyond possible that this would cause an issue. 25k by some rando will not cause any inquiry.
Anonymous
Post 02/14/2024 08:27     Subject: Have you ever asked if your contractor for a major renovation will do better for cash?
Anonymous wrote:The quoted price is the cash price, OP. If you want to pay with a credit card there will be a surcharge.


That's illegal and against the credit card terms of service